Monetary Policy
Underlying inflation, unemployment should ground mandate: Riksbank’s Svensson
Riksbank deputy governor Lars Svensson calls for refined monetary policy framework focusing on underlying, rather than headline, inflation and unemployment over resource utilisation
Fed’s Lockhart recommends renewed focus on monetary, credit aggregates
Atlanta Fed president also advocates Taylor-type rule to manage exit
Firms’ choice in price-reviewing strategies explained: ECB paper
European Central Bank working paper analyses why and how firms pick their price-reviewing strategies
Fund’s DSK on meshing monetary and regulatory tools
Policymakers are looking to academia to help see how macroprudential policy might affect central banks’ independence, IMF managing director Dominique Strauss-Kahn says
Goldman economist to replace Sentance on Bank’s MPC
Chancellor of the exchequer George Osborne names Goldman Sachs’ Ben Broadbent as new member of Bank of England’s Monetary Policy Committee
ECB rejects temporary price pressures argument; signals tightening
European Central Bank’s hawkish Thursday announcement shows a different interpretation of commodity price pressures, second-round effects, to Bank of England and Fed
Bernanke on inflationary impact of global commodity boom
Federal Reserve chairman Ben Bernanke says rise in global commodity prices may lead to temporary spell of inflation
Inflation targeting a successful framework: Central Bank of Chile paper
Central Bank of Chile study says sharp movements of inflation in Chile were consistent with inflation targeting framework
Fed’s Yellen: managing market expectations key to QE
Federal Reserve vice-chair Janet Yellen stresses importance of market expectations to success of asset purchase programme
Bank’s Sentance lists reasons for rate hike
Bank of England external Monetary Policy Committee member Andrew Sentance stresses importance of gradual rise in interest rates
Bank won’t hike rates as gesture to market: King
Bank of England governor Mervyn King says use of interest rate to signal Bank’s intention to curb inflation would be self-defeating
Commentators split on Bank justification for high inflation
CentralBanking.com web panellists divided on whether Bank of England is acting within remit in accommodating persistently above target price pressures
BoE forecasts at odds with public view: BIS paper
Bank for International Settlements study finds substantial disagreement among UK consumers and Bank of England over inflation forecasts
Asset purchases only in emergencies: Bank’s Bean
Bank of England deputy governor Charles Bean says central bank should rely on short-term interest rates as main policy instrument and asset purchases only in emergencies
China attends first Seacen meetings
People's Bank of China governor Zhou Xiaochuan joins in 31st meeting of regional central bank heads in Sri Lanka
Riksbank paper on new DSGE algorithm
Riksbank study documents new forecasting algorithm for monetary policy model
Higher capital rules don’t restrict capacity to lend: Bank’s Miles
Bank of England external rate-setter David Miles takes issue with linking tougher capital stance to reduced ability to lend; says Bank should not rush to temper inflation
Look to global output gap: St. Louis Fed’s Bullard
St. Louis Federal Reserve president James Bullard says policymakers should look to global output gap for true measure of domestic inflation
Bank’s chief economist joins dissenters on rate hike
Bank of England chief economist Spencer Dale votes for rate hike; analysts say outlook remains unclear given persisting weakness in data
No energy pass-through to headline inflation: St Louis Fed paper
St Louis Federal Reserve study finds no pass-through effect from energy prices to trend headline inflation
Norway's Olsen: price stability remains central bank's priority
Norges Bank governor Øystein Olsen says price stability will remain primary monetary policy objective despite low inflation experienced in Norway over recent years
Monetary policy effects on housing bubble: Bank paper
Bank of England study measures impact of monetary policy and capital inflows on housing activity
Central banks should consider price-level targeting: CentralBanking.com poll
Fifty-three percent of voters in CentralBanking.com poll think central banks should mull switch to price-level targeting framework
Mortgage discounting slows monetary policy pass through: Bank of Canada
Bank of Canada Winter Review 2010–2011 says mortgage-rate discounting slows monetary policy pass-through to lending rates